Tag Archives: Real estate

Ardian Real Estate sells Konrad office complex after comprehensive repositioning

Ardian

Frankfurt / Munich, March 2, 2020: Ardian, a world-leading private investment house, has signed an agreement to sell the KONRAD office complex to a 50-50 joint venture between Union Investment and Hansainvest. The transaction takes place approximately three years after the acquisition of the Wappenhalle office complex in Munich-Riem as the first real estate investment in the German-speaking market by the Ardian Real Estate team. During the investment phase, Ardian and its real estate team completed comprehensive upgrade measures. In this context, the real estate complex was repositioned and renamed KONRAD in September 2017. The modern high-grade office complex, which comprises about 34,000 sqm of office space, consists of the Wappenhalle (“Coat of Arms Hall”), a listed building originally built in 1939, and nine further buildings connected by glass structures and situated around a courtyard garden. The parties have agreed not to disclose any financial details relating to the transaction.

Since the acquisition by Ardian in 2017, the quality and attractiveness of the areas has been significantly increased – among other things through the renovation and redesign of the two entrance areas, modernization of the façade and interior areas, and an upgrade of the garden and courtyard. A sum in the tens of millions of euros was invested for the upgrade measures and the rebranding. An important milestone occurred in 2019 with the achievement of a 100 percent occupancy rate by 30 tenants under long-term lease agreements. Most recently, a modern dining area was created on the property in September 2019 and is operated by Leonardi. The Wappenhalle is still used under its existing name as a high-quality venue for galas, trade fairs and exhibitions as well as for conferences. For the repositioning of KONRAD, in February 2020 Ardian Real Estate received the German immobilienmanager award in the “Investment” category.

Bernd Haggenmüller, Senior Managing Director and responsible for the DACH region for Ardian Real Estate, said: “We have fully achieved our goals for KONRAD. The building complex has been successfully repositioned and modernized. It has been significantly upgraded through targeted investments and has attractive unique selling points with the Wappenhalle and the associated combination of tradition and modernity. After reaching full long-term occupancy in 2019, this demonstrates that the measures have been very well received by both existing and prospective tenants.”

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$96bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base.
Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world.
Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 680 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of around 1,000 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.
www.ardian.com

COMPANIES AND PERSONS INVOLVED IN THE TRANSACTION

Ardian Team: Bernd Haggenmüller, Moritz Pohlmann, Nico Rheims, Benedict Rasche
Legal: Herbert Smith Freehills (Thomas Kessler)
Tax: Taxess (Boris Meissner)
Technical: REC Partners (Joachim Wahlich)

PRESS CONTACT

CHARLES BARKER CORPORATE COMMUNICATIONS
ardian@charlesbarker.de
TOBIAS EBERLE
Tel: +49 69 79409024
PETER STEINER
Tel: +49 69 79409027

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ARDIAN REAL ESTATE AND BANCA MPS SIGNED AGREEMENT FOR A TRANSACTION ON A REAL ESTATE PORTFOLIO

Ardian

The portfolio consists of 28 buildings, mainly offices, with most located between Milan, Rome, Florence and Padua. The acquisition includes five significant historical buildings.

Milan, February 28, 2020 – Ardian, a world leading private investment house, has signed an agreement with Banca Monte dei Paschi di Siena for the acquisition of a portfolio composed of 28 properties, owned by the MPS Group. The agreement concludes a competitive process started in July 2019. This follows a period of exclusivity granted to Ardian on February 10.

The portfolio consists of 28 buildings primarily intended for office use mostly located across Milan, Rome, Florence and Padua. The total commercial area spans across approximately 90,000m².

Notably, the portfolio includes five historical buildings which carry unique historical value and are considered artistically and architecturally significant. Between them they represent most of the value of the entire portfolio. Among these buildings is the Bank’s historic headquarters in Milan in Via Santa Margherita, a few steps from Piazza della Scala. The façade on Piazza Ferrari was designed by prominent architect, designer and urban planner Luigi Caccia Dominioni. Palazzo Alinari in the historical centre of Florence and late 19th century building in the famous Via del Corso in Rome that connects Piazza Venezia to Piazza del Popolo.

According with Ardian’s strategy, these five prestigious buildings will be the subject of redevelopment which will aim to create office and retail space.

In the coming weeks, Banca MPS and Ardian will enter into a Preliminary Sale and Purchase Agreement. The completion of the planned acquisition, for most properties, will be complete by the second half of 2020.

Rodolfo Petrosino, Senior Managing Director Southern Europe of Ardian Real Estate, commented: “We are very pleased about the acquisition of this significant real estate portfolio, boasting some unique trophy assets. Our investments in Italy, in the real estate sector, now rise to around €1 billion and positions us among the most active players in the Italian market. This is largely due to the skills and experience of our local team and Ardian’s international platform. We have already made significant investments in Italy and we will continue to select promising opportunities in the core-plus and value-added real estate segment”.

Advisors for Ardian were NCTM for the legal, fiscal and administrative part, Studio Gattai, Minoli, Agostinelli Partners and Studio Legale Gattamelata e Associati for the administrative due diligence and REAAS for the technical and environmental due diligence.

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$96bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base. Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world.
Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 640 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of around 1,000 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt

Follow Ardian on Twitter @Ardian

www.ardian.com

PRESS CONTACTS

ARDIAN – UK
Gregor Riemann
Headland Consultancy
griemann@headlandconsultancy.com
Tel: +44 (0)20 3435 7483
ARDIAN – Italy
Image Building
ardian@imagebuilding.it
Tel: +390289011300

 

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KKR, IGIS and SK D&D Acquire Namsan Square in Seoul

KKR

SEOUL, South Korea–(BUSINESS WIRE)– Global investment firm KKR, Korea’s largest real estate fund manager IGIS Asset Management (“IGIS”), and leading Korean real estate developer SK D&D today announced their acquisition of Namsan Square, an office tower located in the central business district of Seoul, from a real estate investment trust operated by KOREIT, a domestic asset manager in Korea.

Built in 1978, Namsan Square is strategically located at the gateway to Seoul’s central business district. It occupies more than 75,000 square meters across 23 floors of premium office and retail space and includes tenants such as multinational and South Korean corporations, as well as government organizations. Formally known as Kukdong Building, Namsan Square has been renovated through the years and today holds a LEED Gold green building certificate.

The consortium plans to enhance the workspace environment by upgrading the building façade, restrooms and the retail arcade without disruption to existing tenants.

David Cheong, a Director on KKR’s Asia Real Estate team, said, “South Korea holds terrific potential for real estate investment, and the market is a core part of KKR’s regional real estate strategy. Namsan Square is particularly compelling as one of Seoul’s preeminent commercial buildings, and we are extremely pleased to have the opportunity to collaborate with IGIS and SK D&D to significantly improve existing tenants’ overall experience and work-life balance by executing various refurbishment and value-add works.”

Junho Pok, Head of Real Estate Development at IGIS, said, “We are excited to extend our relationship with a world-class investor like KKR to invest in this high-quality property at the gateway of Seoul’s business district. The IGIS team looks forward to bringing our extensive experience renovating real estate projects to Namsan Square and enhancing this property for tenants in the years to come.”

Sun-Pyo Hwang, Head of Real Estate Development Division at SK D&D, said, “This is a compelling investment made alongside strong local and global partners. Through proactive management and our ability to enact key improvements, we look forward to adding value to Namsan Square and enhance the working experience for tenants.”

KKR takes a flexible approach to real estate investment in Asia Pacific across traditional value-add real estate opportunities, corporate and platform investments, and special situations. KKR pairs the capabilities of its local teams in Asia Pacific with the Firm’s global industry and operational expertise to add value. KKR has committed more than US$1.4 billion of equity in its pan-regional real estate strategy, as of December 31, 2019.

South Korea is a key part of KKR’s Asia real estate strategy, and Namsan Square is the Firm’s fourth real estate investment in the country. Previous investments include The-K Twin Towers, a prime office complex located in Seoul’s Gwanghwamun district, Renaissance Parc, a mixed-use real estate development project in Seoul’s Gangnam business district, and the BLK Pyeongtaek Logistics Center development in Pyeongtaek.

KKR makes its investment from its real estate fund. Further details of the transaction are not disclosed.

About KKR

KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate and credit, with strategic partners that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. Inc. (NYSE:KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

Media Contacts:
KKR Asia Pacific
Anita Davis
+852 3602 7335
Anita.Davis@kkr.com

The Signature (for KKR Korea)
Nuri Hwang
+82 2 6951 3557
Nuri@thesignature.co.kr

Source: KKR

 

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ARDIAN REAL ESTATE ACQUIRES OFFICE BUILDING IN MILAN

Ardian

The transaction was conducted through a multi-compartment SICAF managed by Prelios SGR

Milan, February 17, 2020 – Ardian, a world-leading private investment house, has acquired a 7,000 sq.m building in Piazza Fidia 1, Milan, from Generali Real Estate S.p.A. SGR. The acquisition marks Ardian Real Estate’s third investment in Milan, and eighth in Italy.

Built in 1968, the free-standing office building in Milan’s dynamic Isola district is strategically located half-way between Porta Nuova and Scalo Farini, a disused railway yard due to be fully redeveloped as part of a wider redevelopment plan for the area.

The refurbishment plan for the building will involve a complete refurbishment in line with the highest international standards for energy performance, sustainability and architecture.

The purchase is Ardian’s second acquisition through the SICAF, an independently managed fixed-capital real estate multi-compartment investment company managed by Prelios SGR, in which Ardian is the sole investor. The SICAF previously acquired an office building in Via Roncaglia 12/14 in a central area in south-west Milan, from Sator Immobiliare SGR.

As an investor in AIFs managed by Prelios SGR, Ardian Real Estate has invested approximately €500 million to date in properties in Milan and Rome mainly intended as office buildings.

Rodolfo Petrosino, Senior Managing Director for Ardian Real Estate’s operations in Southern Europe, said: “This deal perfectly highlights our strategy of investing in the best core plus-value added opportunities in the Italian market, where we can create value through our important partnership with Prelios. The redevelopment plan, to be launched shortly, will transform the area, and will enable us to attract high-quality tenants for this building.”

Alessandro Busci, Head of Fund Management at Prelios SGR, added: “We are proud of our partnership with Ardian Real Estate, which has been strengthened through this new acquisition. In a competitive market, achieving returns that match investors’ risk appetites depends increasingly on the fund manager’s ability to maximize the value of the assets under management. So, we are delighted that Ardian Real Estate, and our investors, see Prelios SGR as an effective partner that can help them achieve their objectives. The building will be redeveloped and repositioned so that we can make the most of its potential value.”

The transaction was completed with Chiomenti advising on legal and tax Gattai, Minoli, Agostinelli, Partners as administrative advisors, General Planning as architectural advisors and Agire who carried out the technical and environmental due diligence.

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$96bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base.
Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world.
Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 640 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of around 1,000 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

Follow Ardian on Twitter @Ardian

www.ardian.com

ABOUT PRELIOS SGR

PRELIOS SGR is the Prelios Group’s fund manager. One of Italy’s largest real estate and securities SGRs, which in 2018 obtained authorization from the Italian financial authorities to expand its operations into debt funds, it promotes and manages AIFs (investment funds and SICAFs) and separate accounts, and provides advisory services to assist leading national and international investors in drawing up and implementing effective investment and management strategies for real estate or real-estate-backed securities across Italy. At December 2019, Prelios SGR had assets under management for approximately 5.9 billion Euro through 36 funds, including two umbrella funds, two SICAFs and three separate accounts.
Prelios SGR is a signatory of the United Nations-supported Principles for Responsible Investment network, which works for the integration into investment practices of the six responsible investment principles incorporating environmental, social and corporate governance issues.

Follow Prelios on Twitter @Prelios and Linkedin

www.prelios.com

PRESS CONTACTS

ARDIAN
Headland
VIKTOR TSVETANOV
Tel: +44 207 3435 7469
VTsvetanov@headlandconsultancy.co.uk
Prelios Group Press Office
+39 02 6281.4176/4826 – pressoffice@prelios.com
Image Building
Tel. +39 02 89 011 300
prelios@imagebuilding.it
Tel: +390289011300

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CapMan Nordic Real Estate II signs agreement with the Swedish Police to lease in excess of 30,000 sqm of space in Eskilstuna, Sweden

CapMan Real Estate Press release
7 February 2020 at 02.00 p.m. CET

CapMan Nordic Real Estate II signs agreement with the Swedish Police to lease in excess of 30,000 sqm of space in Eskilstuna, Sweden

CapMan Nordic Real Estate II fund has entered into an agreement with the Swedish Police to lease more than 30,000 sqm of space on a long-term basis at its Vintergatan 19 property in Eskilstuna for a new police station.     

CapMan acquired the 63,000 sqm Vintergatan 19 property in March 2018, which sits on a site of 6.5 hectares on Kungsgatan 71 in central Eskilstuna. In 2019, the main existing tenant, ASSA ABLOY, extended its lease on 11,000 sqm for a period of 12 years. In addition to this, CapMan will now develop a modern police station at the property, which will be ready in 2024 and be of significant value to the Police Authority, its employees and the Södermanland County community.

“We are very excited to enter into a long-term agreement with the Police Authority and to develop a new facility for them.  The Police Authority have for some time been searching for a good solution to meet their future needs in Eskilstuna and CapMan is delighted to assist them with this. Completion of this agreement is a major step towards achieving our business plan for the property,” comments Per Tängerstad, Partner at CapMan Real Estate.

Wigge & Partners acted for CapMan in the transaction.

CapMan Nordic Real Estate II is a €425 million fund raised in August 2017. The focus of the fund is to acquire mainly office, industrial, retail and residential properties located in established submarkets of major Nordic cities.

CapMan Real Estate has a team consisting of 40 real estate professionals in Helsinki, Stockholm, Copenhagen and Oslo. CapMan’s current real estate volume under management is over EUR 2.5 billion.

For further information, please contact:
Per Tängerstad, Partner, CapMan Real Estate, tel. +46 70 591 23 00

About CapMan
CapMan is a leading Nordic private asset expert with an active approach to value creation. We offer a wide selection of investment products and services. As one of the Nordic private equity pioneers, we have developed hundreds of companies and real estate assets and created substantial value in these businesses and assets over the past 30 years. Our objective is to provide attractive returns and innovative solutions to investors. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover Private Equity, Real Estate and Infra. We also have a growing service business that includes procurement services, fundraising advisory, and analysis, reporting and wealth management services. Altogether, CapMan employs 140 people in Helsinki, Stockholm, Copenhagen, London and Luxembourg. CapMan is a signatory of the PRI since 2012 and has established the Nordic chapter of the Level 20 network that promotes diversity in the private equity industry. CapMan Plc’s shares are publicly traded on Nasdaq Helsinki since 2001. Please visit www.capman.com for more information.

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Partners Group acquires portfolio of 30 European office and logistics properties

Partners Group

Partners Group, the global private markets investment manager, has, on behalf of its clients, acquired a majority equity stake in a portfolio of 30 commercial properties in Germany, France and the Netherlands. The properties are part of a portfolio previously owned by Imfarr Beteiligungs GmbH and SN Beteiligungen Holding AG, and were acquired for a total transaction value of over EUR 550 million. The acquisition is a joint venture with Peakside Capital Advisors AG (“Peakside”).

The portfolio consists of 27 office and three logistics properties and is mostly located in Germany, with the remaining assets based in greater Paris and Amsterdam. The German portfolio includes buildings in Munich, Hamburg, and Stuttgart, as well as the greater Düsseldorf and Frankfurt regions, and comprises a well-diversified tenant base. Following the acquisition, Partners Group and Peakside will work on a range of value creation opportunities, including repositioning several properties, to optimize the portfolio’s value.

Lars Kreutzmann, Co-Head Private Real Estate Europe, Partners Group, states: “This acquisition significantly expands our real estate portfolio in Germany and underlines the importance of the German market for us on a relative value basis. The portfolio benefits from attractive prime and secondary office locations and is a great fit with our value creation strategy, whereby we focus on properties that can benefit from repositioning with sufficient time and capital. We plan to undertake a multi-year value creation program to maximize value for our clients.”

Mike Bryant, Co-Head Private Real Estate, Partners Group, adds: “This portfolio was originally part of a larger real estate portfolio that was brought to market close to a year ago. Following that sales process, which we followed closely, we were given the opportunity, through our network, to acquire the assets that best align with our relative value strategy. This targeted sourcing makes this acquisition a great fit for our Real Estate Opportunities strategy.”

In December 2019, Partners Group also agreed on behalf of its clients the sale of the “City Campus” office complex, situated on Saatwinkler Damm in the Charlottenburg district of Berlin, for a transaction value of around EUR 200 million. The property, which was repositioned during Partners Group’s holding period, includes 55,640 sqm of rental area and 479 parking spaces across six buildings. It was almost fully let to a mix of blue-chip tenants at the time of the sale.

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CapMan Real Estate in cooperation with Universal-Investment continues acquisitions for BVK by acquiring a property in Copenhagen from MT Højgaard

CapMan Real Estate press release
14 January 2020 at 4.30 p.m. EET
CapMan Real Estate in cooperation with Universal-Investment continues acquisitions for BVK by acquiring a property in Copenhagen from MT Højgaard

CapMan Real Estate expands Bayerische Versorgungskammer’s (BVK) Danish portfolio with the acquisition of a 8,900 sqm project developed by MT Højgaard in Flintholm. The acquisition expands the investment volume of CapMan’s mandate from BVK, which is a real estate fund held on the fund platform of Universal-Investment, to EUR 850 million based on the GAV of the portfolio.

The Flintholm property is located in Frederiksberg, an attractive residential area in Copenhagen, with park access and close to one of the main transportation hubs in the city.

The project will comprise 5,940 sqm residential area in 54 units, 500 sqm retail space and 59 parking spaces as well as storage space in the basement. All units will be equipped by either balconies or terraces.

The property is acquired on a forward funding basis from MT Højgaard, who will also be the general contractor. Construction of the property starts in the first quarter of 2020 with delivery of the turnkey project expected by the end of 2021.

“Flintholm is an excellent addition to BVK’s high quality residential portfolio. We look forward to our continued co-operation with BVK as we have a strong pipeline for further acquisitions across the Nordic countries,” comments Robert Feldt, Investment Director at CapMan Real Estate.

High requirements for architecture and townscape from Municipality of Frederiksberg

Architect Holscher Nordberg has designed an attractive project with attention to detail. This becomes apparent in the terraced building with the light shaded bricks, active zones in front of the retracted entrances, balconies with integrated plant containers and bay windows with views towards the park.

“With the development and sale of this project, we ensure a well-executed finalization of the area and delivery of a product that is in line with our own and the Municipality of Frederiksberg’s high requirements to architecture and townscape. We have been working with these features of the project, that in sum adds more value to the town and the community in the area”, comments Christina Jørgensen, Director of Project Development & PPP at MT Højgaard.

CapMan Real Estate’s Nordic organisation includes more than 40 committed real estate investment professionals, managing over €2.5 billion in real estate investments.

For further information, please contact:
Robert Feldt, Investment Director, CapMan Real Estate, tel. +45 50 51 88 41
Christina Jørgensen, Direktør for Projektudvikling & OPP, MT Højgaard, tel. +45 42 65 68 65

About CapMan
CapMan is a leading Nordic private asset expert with an active approach to value creation. We offer a wide selection of investment products and services. As one of the Nordic private equity pioneers, we have developed hundreds of companies and real estate assets and created substantial value in these businesses and assets over the past 30 years. Our objective is to provide attractive returns and innovative solutions to investors. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover Private Equity, Real Estate and Infra. We also have a growing service business that includes procurement services, fundraising advisory, and analysis, reporting and wealth management services. Altogether, CapMan employs 140 people in Helsinki, Stockholm, Copenhagen, London, Moscow and Luxembourg. Visit www.capman.com for more information.

About Bayerische Versorgungskammer:

Bayerische Versorgungskammer is the competence and service center for occupational and communal pension schemes and Germany´s largest pension scheme group under public law. As a public authority of the Bavarian Ministry of the Interior, it is the joint executive body of twelve liberal professions´ and communal pension schemes. Bayerische Versorgungskammer covers about 2.3 million insured persons in total, with contributions of €4.8 billion and €3.4 billion pension payments annually. It currently has €77 billion assets under management and 1,315 employees. www.versorgungskammer.de

About Universal-Investment

With fund assets of around EUR 491 billion under administration, thereof EUR 377 billion in own vehicles and around EUR 114 billion in, inter alia, insourcing, well over 1,400 mutual and special investment mandates and a workforce of around 750, Universal-Investment is the largest independent investment company in the German-speaking region. With the acquisition of UI labs in January 2019, the industry-leading IT data specialist now completes the Group’s service portfolio by adding front office and data solutions. The investment company is the central platform for independent asset management and unifies the investment know-how of portfolio managers, private banks, asset managers and investment boutiques. Founded in 1968, the Universal-Investment Group is headquartered in Frankfurt/Main and has subsidiaries, branches and holdings in Luxembourg, Poland and Austria. It is one of the pioneers of the investment industry and has meanwhile become the market leader in the areas of master-KVG and private label funds. According to the 2019 PwC ManCo Survey, Universal-Investment is the largest AIFM ManCo in Luxembourg; among the Third-Party-ManCos, Universal-Investment also ranks in first place (as of November 30, 2019). More information available at: www.universal-investment.com

About MT Højgaard A/S

MT Højgaard is one of the leading construction companies in the Nordics. We create those spaces that we live, work and move around in and we have been doing that for a hundred years. Today we combine our practical know-how with advanced technology and we insist on co-operation based on dialogue, curiosity, courage and enthusiasm. MT Højgaard is a part of MT Højgaard Group. The Group’s 3,600 employees focus on co-operation, innovation, processes and sustainability. Visit us at mth.dk.

 

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KKR Acquires Riata Corporate Park in Austin

KKR

NEW YORK–(BUSINESS WIRE)–Jan. 7, 2020– KKR, a leading global investment firm, today announced that it has acquired Riata Corporate Park in Austin, Texas, in a deal valued at approximately $258 million.

Riata Corporate Park is an eight building, 688,100 square foot, Class A office campus located in Northwest Austin, Austin’s largest office submarket. The acquisition includes an adjacent land site that is entitled for a ninth office building. Riata Corporate Park is ideally located five miles from The Domain, Austin’s second Central Business District.

KKR is planning an $11 million capital improvement program to the campus including to amenities such as fitness centers, the café and outdoor plazas.

“Riata is a unique corporate campus centered in an incredibly dynamic area in Austin, one of the fastest growing markets in the U.S. We are thrilled to be investing in the property and the region, and look forward to continue building upon its best-in-class position,” said Roger Morales, a Partner at KKR and Head of Commercial Real Estate Acquisitions in the Americas.

KKR is making the investment through its Real Estate Partners Americas Fund II.

About KKR

KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate and credit, with strategic partners that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. Inc. (NYSE:KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

Source: KKR

Media:
Kristi Huller or Cara Major
212-750-8300
media@kkr.com

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Metro Pacific Hospitals Completes Investment by KKR

KKR

MANILA, Philippines–(BUSINESS WIRE)–Dec. 8, 2019– Metro Pacific Investments Corporation (“MPIC”) (PSE: MPI), global investment firm KKR, and GIC, Singapore’s sovereign wealth fund, today announced the completion of investments in Metro Pacific Hospital Holdings, Inc. (“Metro Pacific Hospitals” or the “Company”) by KKR and an affiliate of GIC (“GIC”). These were made through a series of transactions in common shares in Metro Pacific Hospitals and in mandatorily exchangeable bonds issued by MPIC.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191208005083/en/

Proceeds from the sale of shares in the Company will be used to support Metro Pacific Hospitals’ potential investments in additional hospitals and new healthcare businesses. The capital will also be used to grow the Company’s existing subsidiaries, associates, and joint ventures.

Metro Pacific Hospitals is the operator of the largest private hospitals and healthcare network in the Philippines in terms of authorized bed capacity and revenues, with interests in 14 hospitals and approximately 3,200 beds across the country. The Company is focused on delivering high-quality healthcare solutions to patients at a time when more Filipinos are seeking premium medical services, driven by rising per capita incomes and rapid urbanization.

Manuel V. Pangilinan, Chairman of MPIC and Metro Pacific Hospitals, said, “We welcome KKR and GIC as investors who not only have established track records of helping healthcare companies to meet their growth ambitions, but also have full confidence in Metro Pacific Hospitals’ potential to provide even more critical healthcare services to patients across the Philippines. Today marks the start of a new and exciting chapter for Metro Pacific Hospitals.”

Augusto P. Palisoc Jr., President & CEO of Metro Pacific Hospitals, added, “The Philippine healthcare industry is poised for tremendous growth given the increasing demand for hospitals, clinics, and facilities that provide premium medical services. With this new investment, coupled with the expertise that KKR and GIC bring to Metro Pacific Hospitals, we will be in an even stronger position to meet patients’ needs and capture new opportunities through organic expansion, acquisitions and investments, and the adoption of new technologies.”

Jose Ma. K. Lim, President and CEO of MPIC, said, “The MPIC team is proud of Metro Pacific Hospitals and is pleased to have created and grown one of the largest and strongest hospital groups in the Philippines. We anticipate Metro Pacific Hospitals will continue to go from strength to strength alongside KKR and GIC, and we look forward to continuing our long-term partnership with the whole Metro Pacific team.”

Ashish Shastry, Co-Head of Asia Pacific Private Equity and Head of Southeast Asia at KKR, said, “Metro Pacific Hospitals is a world-class healthcare institution with a terrific team of doctors and medical practitioners who play a critical role in the lives of millions. We are excited to begin our work alongside this excellent team and look forward to supporting Metro Pacific Hospitals’ continued growth and development for healthcare providers and patients in the years to come.”

KKR made its investment from its flagship Asian Fund III.

About Metro Pacific Investments Corporation

Metro Pacific Investment Corporation is a publicly-listed, infrastructure investment firm in the Philippines, with holdings in Manila Electric Company, Global Business Power, Maynilad Water Services, Inc. and Metro Pacific Tollways Corporation. MPIC also holds investments in MPHHI, the Light Rail Manila Company and Metropac Movers Inc.

About Metro Pacific Hospital Holdings, Inc.

Metro Pacific Hospitals is the operator of the largest private hospitals and healthcare network in the Philippines in terms of authorized bed capacity and revenue, with interests in 14 hospitals nationwide, including eight hospitals in Metro Manila. The Company also has interests in an eight primary care clinics and eight cancer care centers, among other investments in allied healthcare services.

About KKR

KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate and credit, with strategic partners that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

About GIC

GIC is a leading global investment firm established in 1981 to manage Singapore’s foreign reserves. A disciplined long-term value investor, GIC is uniquely positioned for investments across a wide range of asset classes, including equities, fixed income, private equity, real estate and infrastructure. In private equity, GIC invests through funds as well as directly in companies, partnering with its fund managers and management teams to help world class businesses achieve their objectives. GIC has investments in over 40 countries and has been investing in emerging markets for more than two decades. Headquartered in Singapore, GIC employs over 1,500 people across 10 offices in key financial cities worldwide.

For more information about GIC, please visit www.gic.com.sg or follow us on LinkedIn.

Source: KKR

Media:

For MPIC & Metro Pacific Hospitals:

David J. Nicol
EVP & Chief Financial Officer
Tel: +632 8888 0888

Augusto P. Palisoc, Jr.
CEO of MPHHI
Tel: +632 8888 0888

Melody M. Del Rosario
VP, PR & Corp. Comms.
Tel. +632 8888 0888

For KKR:

KKR Asia Pacific
Anita Davis
+852 3602 7335
anita.davis@kkr.com

KKR Americas

Kristi Huller & Cara Major
+1 212 750 8300
media@kkr.com

For GIC:

Mah Lay Choon
Senior Vice President
Corporate Affairs & Communications
+65 6889 6841
mahlaychoon@gic.com.sg

Wei Jun Ong
Associate
Corporate Affairs & Communications
+65 6889 8340
ongweijun@gic.com.sg

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KKR Enters Seattle Real Estate Market

KKR

Firm Closes on Two Real Estate Transactions in the Greater Seattle Region

NEW YORK–(BUSINESS WIRE)–Dec. 23, 2019– KKR, a leading global investment firm, today announced the closing of two real estate transactions totaling over $1.2 billion located in the greater Seattle region, including the Summit located in downtown Bellevue and the F5 Tower in downtown Seattle.

The Summit is a 915,000-square-foot Class A office complex in the Bellevue central business district. The complex is 99% leased, and is comprised of two existing LEED Platinum office buildings and a third building currently under construction, expected to be completed in Q3 2020. The properties are well located in the heart of the central business district, one block from the Bellevue Transit Center and the Bellevue Downtown Light Rail Station opening in 2023.

F5 Tower is a recently completed 43-story tower in the Seattle central business district, which includes the 100% leased 516,000-square-foot office condominium acquired by KKR alongside a separate 189-room luxury hotel. The property is architecturally significant to the Seattle skyline and home to F5 Networks as their global headquarters.

“We are excited to be making these two real estate investments in the Puget Sound Region, a market we believe has attractive long-term growth driven by a highly educated employee base, attractive cost of living relative to other top tier markets in the U.S. and high-quality of life,” said Justin Pattner, KKR’s Head of Real Estate Equity in the Americas. “The region is the headquarters to several of the world’s largest companies, and has recently attracted others to build a significant presence in the region. We are looking forward to growing our own presence there with these transactions.”

The buildings will be operated by Urban Renaissance Group, a Seattle based real estate investor, developer, and manager of real estate, who assisted with the acquisitions.

Since launching a dedicated real estate platform in 2011, KKR has invested or committed approximately $9 billion in capital across over 200 real estate transactions in the U.S., Europe and Asia as of September 30, 2019. KKR’s global real estate team consists of over 85 dedicated investment professionals, spanning both the equity and credit businesses.

These investments are being funded by accounts co-advised by KKR and KKR’s balance sheet.

About KKR

KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate and credit, with strategic partners that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

About Urban Renaissance Group

Urban Renaissance Group LLC is a Seattle-based full-service commercial real estate company, engaged in acquisitions, development, asset management, leasing, property management and ownership in Seattle, Bellevue, Denver and Portland. Founded in 2006, the strategic premise of URG is that the form of the American City will change dramatically during the next 20 years. The company acts as a catalyst that understands and ignites that change, thereby building community, generating appropriate returns for its investors and opportunities for its partners and employees. Learn more at www.urbanrengroup.com.

Source: KKR

Media

KKR:
Kristi Huller or Cara Major
212.750.8300
Media@KKR.com

Categories: News

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